We treat Bitcoin as the reserve asset the rest of our coverage builds on: Bitcoin layers like Stacks pay their yield in it, and Strategy has made it the collateral behind STRC, a preferred stock that pays a monthly dividend. The risk we watch most closely is a deep, lasting fall in the Bitcoin price that forces Strategy to sell coins to keep STRC paid, which our STRC model measures every night.
STRC: funded · BTC can fall 12% before Strategy has to sell Bitcoin ·
Run Strategy's STRC structure five years forward from today's figures, under your own Bitcoin path, share sales and market impact, and see when share sales stop, when the USD reserve reaches its floor and how many coins get sold.
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Facts only, each with its source.
